EURUSD on Thursday rose 0.02% to 1.07742. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
Thursday0.02%2.5 Pips
Week to-date-0.1%-10.7 Pips
February-0.4%-43.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in December rose to -3% compared to previous figure -4.3% (revised from -4.8%)

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What can we expect from EURUSD today?

EURUSD on Thursday rose 0.02% to 1.07742. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07474 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07889 or trades above daily pivot 1.07682. Break above could target R1 at 1.07949. While to the downside, we are looking at 1.07474 (S1) and daily low of 1.07414 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07889 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.1%.

Key levels to watch out:

Daily Pivot1.07682

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